The future of the iGaming industry in Africa is bright. This is in spite of the legal issues jeopardizing the growth of online casinos in some parts of the continent.
In 2019, Nigeria’s online gambling industry garnered over $600 million. On the other hand, Kenya has the third-largest online gambling market in the region, while Ghana’s virtual gambling revenue is expected to hit $9.3 million by 2023, per Business Insider Africa.
All the figures clearly suggest that something is happening to Africa’s online gambling industry. Ever since the pandemic started, the industry witnessed a sudden boom as more people stuck in their homes began to try their hand at gambling online.
Worldwide, people in Africa comprise 11.5% of global internet users. Based on latest estimates, a large percentage of that population are accessing online casinos and similar betting sites. Thus, it is not surprising if gambling companies would start a business revolution in the region.
As Africa and the rest of the world are trying to crawl their way out of the pandemic, several gambling sites sprouted in several parts of the continent. They are expected to expand the industry’s revenues while also creating employment opportunities for many African people.
Recent technological advancements help shape the future of Africa’s iGaming landscape. The introduction of 5G in South Africa, Kenya, Nigeria, Ghana, Egypt enhanced desktop and mobile gaming in the region, enabling more people to readily access and play at online casinos.
Land-based casinos in Africa are slowly going back to normal, but it’s undeniable that online casinos and betting platforms already secured the upper hand during the pandemic by attracting more signups and expanding their community of players. Africa’s virtual gambling market will just get bigger from here on out.
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